February 12, 2007

Honda Aircraft to establish world headquarters and production facility in North Carolina

Greensboro, North Carolina – Honda Aircraft Company Inc. has announced plans to establish its world headquarters in Greensboro, North Carolina, with construction of a headquarters facility and hangar at Piedmont Triad International Airport. The company also confirmed plans to manufacture its HondaJet light jet at a new plant, to be constructed adjacent to the new headquarters. The company plans to begin delivery of the jet to customers in 2010.

Initial investment for construction of the headquarters and hangar will be about US$40 million, plus approximately US$20 million for equipment. Details of additional investment for the manufacturing facility will be announced at a later date. The headquarters will serve as the home for all HondaJet research, product engineering, sales and marketing, and service support, and will replace the company’s existing hangar and office complex, also located at the airport. Construction will begin immediately and is scheduled to be completed in November 2007.

The HondaJet, Honda’s first-ever commercial aircraft, delivers 30 to 35 per cent better cruising fuel efficiency than comparable jets, along with a class-topping cruise speed of 420 knots (450 mph, or 724 km/h) and a more spacious cabin with room for up to eight people. The customer base is composed of owner-pilots, corporate travel operators and air taxi companies. All major assembly and testing of the prototype HondaJet has been conducted at the company’s existing Greensboro facility, which opened in 2001. The new facility will become Honda’s 17th major manufacturing plant in North America, including two currently under construction in Ontario and Indiana. The company already has a major North Carolina manufacturing facility near Swepsonville, which produces general purpose engines, lawn mowers and power equipment products.

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